Wrdic.org WRDIC2021 - Wharton Restructuring and Distressed Investing ...
←
→
Page content transcription
If your browser does not render page correctly, please read the page content below
wrdic.org WRDIC2021
Table of Contents
3 Agenda
5 Welcome from the Co-Chairs
6 Thank You to Our Sponsors
8 Keynote 1: The Turnaround Mindset
10 Pandemic Paradox: Where’s the Restructuring Work?
15 Recent Developments and Key Trends in Distressed Liability
Management Transactions
20 Distressed Hedge Funds: Perspectives on the Past Year and Beyond
23 Keynote 2
26 Retail Rodeo: Reflections on Yet Another Unprecedented Dynamic
Year in Retail
30 Challenges of Contentious Cross-Border Chapter 11s During COVID
34 Q&A Discussion of “The Caesars Palace Coup”
36 Keynote 3
wrdic.org
WRDIC2021
2
Agenda Friday, February 19, 2021
TAKE THE RIGHT ACTION Partner with us. Our professionals have a long and successful track record helping companies resolve urgent situations, implement rapid change, and retain maximum value. There’s a reason we’re widely sought after in the industry we pioneered. When it really matters. alixpartners.com
Welcome from the Co-Chairs
On behalf of The Wharton School, it is our pleasure to welcome you to the 17th
Annual Wharton Restructuring and Distressed Investing Conference! While this
conference will look different than in years past, we believe that there is no better
time than now to discuss distressed investing. And we are proud to welcome
hundreds of lawyers, investment bankers, consultants, investors, students, and
other professionals to engage in this dialogue.
When we last met in February of last year, we were able to do so at The Plaza Hotel
in New York. COVID-19 was still primarily confined to Asia. And the market had yet to
significantly correct, as it did in March of 2020. Since then, the world has changed
– and we have yet to fully reckon with what will undoubtedly constitute a New
Paradigm in markets, in industry, and in life.
For 17 years, The Wharton School has hosted the largest restructuring and distressed
investing-focused school-run conference in the United States. We are proud to
continue this tradition and to provide a forum to gather and exchange ideas about
Restructuring and Distressed Investing.
We will be at your service all day to answer any questions you may have. Please
enjoy the Conference.
Thank you,
2021 Conference Co-chairs
Yehuda Katz, Alexander R. McHale, Chris Neumann, and Genevieve Shaw
5
Thank You to Our Sponsors
Platinum Sponsors
Gold Sponsors
Silver Sponsors
Bronze Sponsors
Media Sponsors
6
Kirkland & Ellis is proud
to sponsor the
17th Annual Wharton
Restructuring and Distressed
Investing Conference
Kirkland & Ellis LLP | 601 Lexington Avenue, New York, NY 10022
+1 212 446 4800 | www.kirkland.com
Keynote 1: The Turnaround Mindset
Friday, April 9, 2021 9:00 AM–9:50 AM ET
Simon Freakley
CEO
AlixPartners
Simon is the chief executive officer of AlixPartners. He is based in New York
and, with his team, provides transformative leadership to businesses and
stakeholders, responding quickly and decisively to their most complex and
critical challenges.
Simon became CEO of AlixPartners in 2015. In his more than 30 years
of experience, Simon has combined his skills in business turnaround,
strategic consulting, and stakeholder management in the development of
performance improvement and accelerated transformation projects for
many large and high-profile businesses. Before joining AlixPartners, Simon
was CEO of Zolfo Cooper Europe from 2008 to 2015. Prior to this, he was CEO
of Kroll Inc., a corporate investigations and risk consulting firm based in New
York.
Long involved in philanthropic causes, Simon is the chairman of the American
Friends of the London Philharmonic Orchestra, as well as chairman of Grange
Park Opera and London Music Masters.Tullman has three amazing children
that inspire him every day.
8
Putting solutions
into focus
In any insolvency or restructuring situation, you
need a strategy that deals swiftly and efficiently
with key issues. Weil’s Restructuring team has
the experience, insight and knowledge to hit the
ground running when it comes to dealing with your
specific challenges.
We strive every day to take restructuring to the next
level with creative solutions to earn our reputation
as the world’s leading restructuring practice. We
have the depth, strength and experience to handle
all aspects of restructuring and insolvency matters.
Contacts:
Matt Barr
Global Co-Head of Restructuring
+1 212 310 8010
Gary Holtzer
Global Co-Head of Restructuring
+1 212 310 8463
Ray C. Schrock, P.C.
Global Co-Head of Restructuring
+1 212 310 8210
Please visit our Restructuring Blog at rx.weil.com
Weil, Gotshal & Manges LLP weil.com
AlixPartners presents
Pandemic Paradox: Where’s the Restructuring Work?
Friday, April 9, 2021 10:00 AM–10:50 AM ET
Despite its impact on families, on Main Street and on certain other pockets of the US economy, the worldwide
pandemic has not driven a sustained wave of restructuring activity. The panelists will explain the reasons behind this
phenomenon and provide some insights about the longer term impact of the pandemic, including sectors to watch.
Elizabeth Abrams
Senior Managing Director
Guggenheim Securities
Elizabeth Abrams is a Senior Managing Director of Guggenheim Securities, where
she advises companies, boards of directors, investors and governments on liability
management and restructuring transactions. Elizabeth has advised on many of
the most complex restructuring transactions across sectors, including power, real
estate, oil & gas and public finance. She also serves as a member of Guggenheim
Securities’ fairness opinion and valuation committee.
Elizabeth has spent her career focused on restructuring. Ms. Abrams was part of the
team at Millstein & Co. that joined Guggenheim in 2018 and prior to Millstein. She
started her career in restructuring at Miller Buckfire.
Elizabeth has advised on restructuring of billions of dollars of liabilities. Notable
transactions include advising constituents in the restructurings of Texas
Competitive Energy Holdings (now Vistra Energy), the Commonwealth of Puerto
Rico, Pacific Gas & Electric, and General Growth Properties, among others. She
has been recognized as a leader in the restructuring field and her work has been
honored by the Turnaround Management Association and Turnaround & Workouts
magazine.
Ms. Abrams graduated from the Jerome Fisher Program in Management and
Technology at the University of Pennsylvania, where she earned a B.S. in Economics
from the Wharton School and a B.A.S. from the School of Engineering and Applied
Science. She has served as a guest lecturer on restructuring topics at the University
of Virginia and Columbia Law School. She currently sits on the boards of directors of
Her Justice and Animal Lighthouse Rescue.
10Jeffrey Finger
Managing Director
Jefferies
Jeffrey Finger is a Managing Director and Co-Head of the US in the Debt Advisory
& Restructuring Group at Jefferies. He has over 20 years of experience advising
companies, boards of directors, financial sponsors and creditors across a range
of industries in restructuring, recapitalization, liability management, financing and
M&A transactions. Mr. Finger has advised on transactions aggregating over $75
billion of debt restructured and $15bn of financing raised.
Selected client matters include Ambac Financial Group, American Airlines, Amtrol,
APC Automotive, Aspect Software, BCBG MaxAzria, Bloom Energy, CNL Hotels &
Resorts, Danka Business Systems, Dendreon, Dura Automotive Systems, Eddie Bauer,
Edison Mission Energy, Endologix, Energy Future Holdings, Foresight Energy, Gibson
Brands, Grupo TMM, Horizon Global, Huntsman Corporation, Interstate Bakeries,
Iracore International, Isola Group, Jakks Pacific, JC Penney, La Paloma Generating
Company, Lear Corporation, Local Insight Media, Melinta Therapeutics, Nordam
Group, Quorum Health, Readers Digest Association, Rosehill Resources, Salt Creek
Midstream, Spiegel Group, Synergy Pharmaceuticals, Tronox and several other
undisclosed engagements.
Prior to joining Jefferies, Mr. Finger was a partner in the debt advisory and
restructuring group at Centerview Partners. Earlier in his career, Mr. Finger was
a Managing Director at Miller Buckfire & Co., a former member of the financial
restructuring group of its predecessor, Dresdner Kleinwort Wasserstein, as well as
worked in the investment banking division of Wasserstein Perella. He has an M.B.A.
from the University of Chicago Booth School of Business and a B.A. in economics
from the University of Michigan.
David Hindman
Senior Vice President and General Manager
AlixPartners
David is a leader in AlixPartners’ Power and Utilities team. He has spent more than
20 years as a senior executive and strategic advisor to electric power and natural
gas companies.
David has advised a variety of clients in the successful turnarounds and
transformations, including leading PG&E’s business plan and implementing
operational improvements. He also served as executive with Direct Energy /
Centrica leading generation, wholesale, and retail segments.
Previously, David was a co-founder of the Corporate Risk Practice at McKinsey &
Company and a leader in the Electric Power/Natural Gas Practice.
11David holds an MBA from Harvard Business School and a B.S. in Mechanical
Engineering and a B.A. in Economics from Rice University. He has served on the Energy
Advisory Committee of the Greater Houston Partnership and on the Rice University
Engineering Board of Directors and has been a guest lecturer at Rice University. He
has led more than $180 Bn of M&A transactions across the energy sector.
Elizabeth R. McColm
Partner
Paul Weiss
A partner in Paul, Weiss’ Restructuring Department, Elizabeth McColm specializes
in the areas of corporate restructurings and bankruptcy and has been involved
in major restructurings and bankruptcies representing debtors, creditors and
acquirers of assets. Elizabeth’s company-side representations include Petra
Diamonds, McGraw Hill, Pioneer Energy Services Corp., David’s Bridal, The Bon-Ton
Stores and Noranda. Recent creditor-side and investor matters include advising
key stakeholders in the restructurings of Virgin Australia Airlines, California
Resources Corporation, Country Fresh Holdings, Denbury Resources, Seadrill Limited,
FULLBEAUTY Brands, Pacific Drilling, Oro Negro, GenOn, Armstrong Energy, Ultra
Petroleum and SquareTwo Financial, among others.
Elizabeth is widely recognized as a leading restructuring practitioner, including by
Chambers USA, The Legal 500 and IFLR1000, and she speaks frequently at industry
events. She co-authors with fellow Paul, Weiss partner Alan Kornberg, an annual
chapter in the International Comparative Legal Guide (ICLG) to Corporate Recovery
and Insolvency. She also contributed the “Investment Fund Activity in Chapter 11”
chapter in Americas Restructuring Review 2021 published by Global Restructuring
Review. Elizabeth’s representations have been recognized by numerous industry
publications; International Financial Review’s 2021 Asia-Pacific Awards recognized
Virgin Australia Airlines as its “Restructuring Deal of the Year,” the M&A Advisor
selected Pacific Drilling as the 2019 “Energy Deal of the Year” and The Bon-Ton Stores
as 2018 “Consumer Discretionary Deal of the Year (Over $100MM),” and the Financial
Times has “Highly Commended” Elizabeth in its annual report on “U.S. Innovative
Lawyers” for her work representing certain CEVA Group lenders in the company’s
restructuring.
Elizabeth currently serves on the Bankruptcy and Corporate Reorganization
Committee of the New York City Bar Association.
12Alan D. Holtz
Managing Director
AlixPartners
(Moderator)
Alan advises clients on maximizing value, recovery, and financial returns in complex
restructuring situations. For the past 32 years, he has worked with management
teams and boards of directors of companies facing financial challenges as well as
with secured lenders and unsecured creditors of companies in similar situations,
both in Chapter 11 and out of court. Alan was with a Big Four firm before joining
AlixPartners, both as a CPA and as a restructuring consultant. He has a Bachelor of
Science in accounting from the Wharton School at the University of Pennsylvania.
Clients that Alan has represented in recent years include FirstEnergy, FTD, Appvion,
LSC Communications and creditors of Payless Shoes, Chicago Tribune and Energy
Futures Holdings.
Alan has served on the boards of directors of various not-for-profit organizations,
including Youth INC, Newark Public Radio (Finance Chair), and the Association of
Insolvency and Restructuring Advisors (President), amongst others.
proudly supports
THE 2021 WHARTON
RESTRUCTURING & DISTRESSED
INVESTING CONFERENCE
Learn more at AlvarezandMarsal.com Follow A&M on:
NORTH AMERICA | EUROPE | MIDDLE EAST | LATIN AMERICA | ASIA
13Evercore presents
Recent Developments and Key Trends in Distressed
Liability Management Transactions
Friday, April 9, 2021 10:00 AM–10:50 AM ET
Multiple recent transactions have utilized novel reads of credit documents to prime existing senior debt or otherwise
advantage one creditor group over another despite similar positioning within companies’ pre-transaction capital
structures. This panel will discuss the impact of such recent transactions as well as the opportunities and challenges
faced by creditors and companies alike in this still-evolving environment.
Patrick Daniello
Credit Advisory
Eaton Vance
Mr. Daniello is a member of SVP funds’ Advisory Council and primarily involved in
furthering the North American franchise.
Mr. Daniello is the President of Daniello Associates, an advisory firm providing
wholesale restructuring and workout advice, portfolio management, and case
management to credit investors. Prior, Mr. Daniello worked at J.P. Morgan Chase &
Co. from 1987 to 2018 where he held multiple positions. Most recently he was the
Wholesale Chief Risk Officer for JPMorgan Chase’s Consumer and Community
Bank, where he was responsible for all facets of Risk Management across $60B of
wholesale assets and managed a global team of 450 employees. However, most of
his tenure at JPMorgan was in the Corporate & Investment Bank in Special Credits
and Special Situations, where he held the position of Global Head of Wholesale
Special Credits from 2007 to 2017. Prior to becoming Global Head, Mr. Daniello
was Head of Special Credits for EMEA and Asia Pacific, while he and his family
were based in London from 2002 to 2007. He has been responsible for managing
JPMorgan’s position through many high profile restructurings.
Mr. Daniello graduated from Lehigh University’s College of Business and Economics
with a BS in Finance, received his MBA from the Gabelli Graduate School of Business
at Fordham University, and is a member of the Risk Management Association.
15Roopesh Shah
Senior Managing Director
Evercore
Roopesh Shah is a Senior Managing Director of Evercore’s Restructuring and Debt
Advisory Group.
Mr. Shah has worked on numerous restructuring assignments, advising companies,
creditors, and other parties on refinancings, exchange offers, consent solicitations,
amendments, out-of-court restructurings, Chapter 11 bankruptcy reorganizations,
distressed mergers and acquisitions, Section 363 asset sales and cross-border
restructuring issues. Mr. Shah has also been involved in numerous DIP and exit
financings for companies in Chapter 11 and several “rescue” financings for
distressed clients. Selected client engagements include work for Alcatel-Lucent,
Arcapita, Associated Materials, ATU, California Resources, Chesapeake Energy,
Claire’s Stores, Cobalt International Energy, Comverse Technologies, Edcon,
hibu, Imtech, Isola, Keystone Automotive, Movie Gallery, Norske Skog, Pfleiderer,
Sea Island, Select Staffing, Selecta, Sequana, Spectrum Brands, Targus, Tronox,
Wastequip, Zekelman Industries, and The Yellowstone Club.
Prior to joining Evercore, Mr. Shah was the Global Head of Goldman Sachs’
Restructuring Finance and Advisory Group, where he had worked since 2006. Prior to
Goldman Mr. Shah was a Director in the Restructuring Group of Miller Buckfire & Co.
and a Vice President in the Mergers & Acquisitions Group of Wasserstein Perella & Co.
Mr. Shah received a B.S. in Economics from the Wharton School of the University
of Pennsylvania, with concentrations in finance, marketing and information
technology.
Jane VanLare
Partner
Cleary Gottlieb
Jane joined Cleary Gottlieb Steen & Hamilton LLP in 2010 and became a partner in
2016. Jane’s practice focuses on restructuring, insolvency, and bankruptcy litigation.
Jane has advised on significant transactions in the bankruptcy and restructuring
space, including acting as counsel to Overseas Shipholding Group’s successful
restructuring and exit from Chapter 11 bankruptcy protection, which IFLR named as
“Restructuring Deal of the Year,” Goldman Sachs in the Lehman Brothers Chapter 11
proceedings, which IFLR named as a “Restructuring Deal of the Year,” and to Truvo
Group in its Chapter 11 proceedings, which IFLR named as an “EMEA Restructuring
Deal of the Year.” For three years in a row, Jane was honored on Benchmark
Litigation’s “Under 40 Hot List.” Jane received a J.D. from Harvard Law School and a
A.B., magna cum laude, from Harvard College.
16Kaj Vazales
Managing Director and Co-Head of North America
Oaktree Capital
Mr. Vazales, Managing Director and Co-Head of North America Distressed
Opportunities, leads the team’s investing efforts across a number of industries in
the region and also oversees the group’s recruiting efforts. Mr. Vazales is responsible
for sourcing, underwriting and executing publicly traded and private investments
in the areas of distressed and stressed credit, private equity, leverage finance
and equities. He has overseen a number of restructurings, and has played a key
role in both in- and out-of-court recapitalizations for some of the group’s largest
investments, including sitting on ad hoc and official committees of creditors in
chapter 11. During his tenure, Mr. Vazales has had primary coverage responsibility
for a significant number of sectors, and made investments in the auto, specialty
finance, gaming, commercial real estate, retail/consumer, and oil and gas
industries. He has served on a number of public and private boards, including
Pulse Electronics, Berry Petroleum Corp., International Market Centers, Aleris
International, FullBeauty Brands, and Acosta, Inc. Prior to joining Oaktree in 2007,
Mr. Vazales worked as an analyst in the Financial Restructuring Group at Houlihan
Lokey, advising creditors and distressed companies on strategic alternatives. He
graduated from Harvard University with an A.B. degree in economics, cum laude.
Lawrence G. Wee
Partner
Paul, Weiss
Larry Wee is a partner in the Corporate Department at Paul, Weiss, Rifkind,
Wharton & Garrison LLP, and a member of the firm’s Capital Markets, Finance and
Restructuring Groups. Larry’s practice focuses on a variety of capital markets
and finance transactions, securities regulation and restructuring matters. He has
been recognized by The Legal 500 as a leading capital markets lawyer as well
as by Lawdragon as one of their “500 Leading U.S. Bankruptcy and Restructuring
Lawyers.” Larry’s practice includes public and private equity offerings, high-yield
and investment-grade debt offerings, convertible debt offerings and offerings of
asset-backed securities. He also represents public companies in connection with
their ongoing securities law and corporate governance matters and advises in
connection with public mergers and acquisitions transactions. Larry has extensive
experience in debt consent solicitations, debt restructurings, restructuring
financings and exchange offers.
Larry’s recent noteworthy representations include Canopy Growth Corporation,
an NYSE- and TSX-listed caannabis products company, in a $750 million secured
term loan financing (its first such financing in the U.S.), Revlon Consumer Products
Corporation with respect to a $1.9 billion secured loan refinancing transaction,
a $200 million secured additional term loan, $2.2 billion of secured acquisition
financing and Rule 144A offerings of a total of $950 million of senior unsecured
17notes; Carnival Corporation & plc in four post-COVID first- and second-lien bank
and bond secured financings and two post-COVID unsecured bond financings
totaling more than $15.9 billion and in amendments to more than $20 billion of its
pre-COVID debt; ad hoc groups of first-lien lenders in the chapter 11 reorganizations
of Frontier Communications and Windstream; and an ad hoc group of unsecured
note holders in the structuring of the exchange offers and resulting debt and equity
securities in the $2.5 billion out-of-court restructuring of Neiman Marcus Group
and MyTheresa. Larry’s public company clients include Taylor Morrison Home
Corporation, Movado Group, Inc., vTv Therapeutics Inc. and Emmis Communications
Corporation. Larry also represents private equity and other funds in leveraged
buyouts, including affiliates of Oaktree Capital Management, MacAndrews & Forbes,
KPS Capital Partners and Oak Hill Capital Partners.
Stephen Goldstein
Senior Managing Director
Evercore
(Moderator)
Stephen Goldstein is a Senior Managing Director of Evercore’s Restructuring and
Debt Advisory Group. He joined Evercore in 2012.
Mr. Goldstein has advised corporate clients and creditor groups in a broad range
of restructuring, reorganization and capital raising transactions. Specifically, Mr.
Goldstein has significant experience in Chapter 11 and out-of-court restructurings,
as well as raising debt and equity capital in traditional and distressed situations. Mr.
Goldstein has represented clients across a diverse variety of industries, including
energy, heavy building materials, real estate, TMT (telecom/media/technology),
health care and consumer products. Selected client engagements include advisory
work for Altegrity, Catalina, Charter Communications, David’s Bridal, Education
Management Corporation, Energy Future Holdings, iStar Financial, Jacuzzi Brands,
Masonite, Monitronics, Preferred Sands, Primus Telecommunications, Southeastern
Grocers, Spanish Broadcasting Systems, Tops Markets, The Great Atlantic & Pacific
Tea Company, U.S. Concrete, U.S. Xpress, WCI Communities, and White Birch Paper.
Prior to joining Evercore, Mr. Goldstein was a Managing Director in the Financial
Restructuring Group at Lazard Freres & Co., where he had worked since 2002. Prior
to Lazard, Mr. Goldstein served in several investment banking positions at Thomas
Weisel Partners and its predecessor firm, Montgomery Securities. Mr. Goldstein
began his career as an attorney at Morgan, Lewis & Bockius, where he specialized in
securities law and mergers and acquisitions.
Mr. Goldstein has a J.D. from New York University School of Law and a B.A. (with
distinction) from Cornell University.
18Providing strategic advice when it matters most. Miller Buckfire proudly supports the Wharton Restructuring and Distressed Investing Conference www.millerbuckfire.com info@ millerbuckfire.com +1 212 895 1800
Kirkland & Ellis presents
Distressed Hedge Funds: Perspectives on the Past Year
and Beyond
Friday, April 9, 2021 11:00 AM–11:50 AM ET
The distressed investing world has never seen a year like 2020. The panelists will share their impressions and
experiences on investing in the midst of the global pandemic, oil price wars, roaring capital markets, and the rise of the
retail investor. As we turn the corner, we will discuss the potential opportunities and pitfalls for 2021 and beyond and the
outlook for the distressed investing industry.
Daniel Flores
Partner
GoldenTree Asset Management
Daniel Flores is a Partner, the Head of Restructurings and Turnarounds in North
America and a member of the Distressed Investment Committee at GoldenTree
Asset Management. At GoldenTree, he is responsible for restructurings, distressed
investments, turnarounds and the firm’s post-reorganization portfolio in North
America. Prior to joining GoldenTree, Mr. Flores worked at Avenue Capital Group,
where he focused on U.S. distressed opportunities, restructuring transactions and
turnarounds, in the Restructuring and Finance Group at Lehman Brothers, where he
advised clients in connection with out-of-court restructurings, Chapter 11 cases and
financings in the U.S., Europe and Latin America, and in Merrill Lynch’s Global Power
Group in New York, London and Singapore. In addition, Mr. Flores founded MENU Pte
Ltd, a leading operator of Western food and beverage concepts in Singapore. Mr.
Flores has served on a number of profit and non-profit boards, including Superior
Energy, Milacron, Trusted Media Brands, CE Star and Repertorio Español, and on
dozens of ad hoc creditor committees. Mr. Flores received an A.B. degree from Duke
University and his M.B.A. from Columbia Business School.
Suzanne Gibbons
Managing Member
Davidson Kempner
Suzanne K. Gibbons, Managing Member – Distressed Investments, joined Davidson
Kempner in July 2007. Ms. Gibbons was appointed Managing Director in January
2015 and became a Managing Member in January 2020. From 2003 to 2005,
Ms. Gibbons worked as an Associate at Montgomery & Co., advising healthcare
companies on private placements and mergers and acquisitions. From 2001 to
2003, she was an Analyst in the healthcare investment banking group at JPMorgan.
Ms. Gibbons received her M.B.A. from Harvard Business School in 2007 and her B.A.
from Dartmouth College in 2001.
20Ian Glastein
Managing Principal
Monarch
Ian Glastein is a Managing Principal at Monarch Alternative Capital, an investment
firm with over $9 billion of assets under management. Mr. Glastein focuses on
investments in opportunistic and distressed situations across corporate debt, real
estate, special situations, and other market segments. Prior to joining Monarch in
2011, Mr. Glastein worked at Goldman Sachs as an Investment Banking Analyst in
the Healthcare Group before completing a two-year fellowship at The Rabinowitz
Institute in Israel. Mr. Glastein currently serves as the Chairman of the Board of
Shopko Optical, as well as on the boards of various entities related to investments
in U.S. real estate. In addition to his professional affiliations, Mr. Glastein also serves
on the board of the Meor Foundation, as well as on the boards of several local
community organizations in New York. Mr. Glastein graduated from the University of
Pennsylvania, magna cum laude, with a B.S. in Economics from the Wharton School
and a B.A. in Biology from the College of Arts and Sciences. He also earned a Master
of Biotechnology from the School of Engineering and Applied Science.
Christopher Lahoud
Partner, Credit in New York
Apollo
Chris Lahoud joined Apollo in 2018 in Credit and is a Partner on the Liquid Credit
Team . Prior to that time, Mr. Lahoud was a Managing Director in the Distressed
Product Group at Deutsche Bank from 07/11 to 07/18. Prior to that, Mr. Lahoud was an
Associate at Citigroup from 07/06 to 06/11.
Aaron Rosen
Partner, Co-Portfolio Manager, Special Opportunities
Ares
Mr. Rosen is a Partner and Co-Portfolio Manager of Special Opportunities in the Ares
Private Equity Group, where he focuses on investing across the various Ares fund
platforms in the public and private markets. Mr. Rosen serves as a member of the
Ares Private Equity Group’s Special Opportunities Investment Committee. Prior to
joining Ares in 2018, Mr. Rosen was a Partner and Director of Research at Archview
Investment Group, where he focused on distressed and high yield investments
in both in the U.S. and internationally. Prior to Archview, Mr. Rosen was a Vice
President at Citigroup, where he was a founding member of the Citibank Global
Special Situations Group focused on U.S. distressed debt, stressed credit, and value
equity investment strategies. In addition, Mr. Rosen was a member of Citigroup’s
Asset-Based Finance group, where he focused on structuring senior secured debt
financings for noninvestment grade corporate borrowers. Mr. Rosen holds a B.S.,
21summa cum laude, from New York University’s Stern School of Business in Finance
and Information Systems where he received the Valedictorian Award.
Steven N. Serajeddini
Partner
Kirkland & Ellis
(Moderator)
Steven advises companies, distressed investors, ad hoc committees, private equity
firms, and other investors with respect to public, private, and portfolio companies
in financial distress, including liability management transactions, amend and
extend transactions, refinancings, out-of-court exchanges and restructurings, and
bankruptcy and insolvency proceedings. Steven has been involved in some of the
largest and most complex corporate restructurings of all time.
Steven also advises boards of directors and senior management of distressed
companies regarding fiduciary duties and corporate governance.
Steven has extensive experience in a broad range of industries, including oil and
gas, power, retail, telecommunications, healthcare, manufacturing, hospitality, real
estate, financial services, publishing, media, and pharmaceutical.
22Keynote 2
Friday, February 19, 2021 10:15 AM–11:00 AM ET
Judge Marvin Isgur
United States Bankruptcy Judge
United States Bankruptcy Court for the Southern District of Texas
Marvin Isgur has been a United States Bankruptcy Judge since February 1,
2004. He was appointed to a second term as a Bankruptcy Judge, which
began on February 1, 2018. Chief Justice John Roberts, Jr. appointed Judge
Isgur to the Judicial Conference Committee on Court Administration and Case
Management. He is the sole bankruptcy judge appointed to the Committee by
the Chief Justice. Judge Isgur was recently reappointed to a second term on
the Judicial Conference Committee.
Judge Isgur currently presides over more than 4,000 bankruptcy cases. He has
been instrumental in reforming consumer bankruptcy practices and rules both
in the Southern District of Texas and nationally.
Judge Isgur is one of two judges who is assigned complex bankruptcy cases
in the Southern District of Texas. In that capacity, he has presided over multiple
bankruptcy cases with liabilities exceeding one billion dollars. In 2018, he was
assigned the largest bankruptcy case filed in the United States.
In 1974, Judge Isgur received his bachelor’s degree from the University of
Houston. In 1978 he received his MBA, with honors, from Stanford University.
After earning his MBA, Judge Isgur served as an executive with a large real
estate development company in Houston. In 1987, Judge Isgur returned to the
University of Houston to attend law school. Judge Isgur was awarded his law
degree, with high honors, in 1990 and began representing debtors and trustees
in chapter 11 and 7 bankruptcy cases until his appointment as a Bankruptcy
Judge. Judge Isgur is also one of a handful of attorneys in the nation with
experience representing various parties in chapter 9 bankruptcy cases.
Judge Isgur has written over 500 memorandum opinions. He was one of
the first judges to issue opinions interpreting the 2005 Bankruptcy Abuse
Prevention and Consumer Protection Act.
Judge Isgur was a founding member and served on the board of directors
for the Houston Urban Debate League, a non-profit organization that works
in partnership with local schools to bring policy debate to high school
students. He is one of the principal organizers of the annual University of Texas
Consumer Bankruptcy Conference and is a frequent speaker at continuing
legal education programs. When his volunteer and court activities permit,
Judge Isgur spends his weekends sailing on Galveston Bay.
23Judge Marvin Isgur will be interviewed by Genevieve Shaw and Matt Barr
Genevieve Shaw
Co-Chair
Wharton Restructuring and Distressed Investing Conference 2021
Genevieve is a second-year student in the JD/MBA program at The Wharton School and
Penn Law. She will be interning with PJT’s Restructuring & Special Situations team in New
York this summer. Prior to Penn, Genevieve was an equity research associate at Fidelity
Investments in Boston on the industrials team covering business services, waste, and
engineering & construction companies.
Genevieve graduated from Harvard with a B.A. in History.
Matt Barr
Co-Chair, Restructuring Department
Weil, Gotshal & Manges LLP
Matt Barr is Co-Chair of the Restructuring Department at Weil, Gotshal & Manges LLP and a
member of the Firm’s Management Committee. Mr. Barr has extensive experience leading
representations of debtors, secured and unsecured creditors, bondholders, ad hoc groups,
private equity funds, acquirers of assets, hedge funds and other institutions acquiring
controlling positions in financially distressed companies in chapter 11 reorganization
cases and out-of-court restructurings both in the United States and internationally. Mr.
Barr’s engagements have ranged across a wide array of industries, including retail,
telecommunication, chemical, pharmaceutical, textile, energy, oil and gas, automotive,
apparel, manufacturing, project finance and shipping. He has drawn upon his broad
experience to develop and advise clients on practical solutions and build the consensus
required to implement these solutions.
Mr. Barr has consistently been recognized over the years as one of the nation’s leading
restructuring lawyers by Chambers Global, Chambers USA, IFLR1000, Lawdragon, Legal 500,
Guide to World’s Leading Insolvency and Restructuring Lawyers (Legal Media Group), and
Super Lawyers, among others. Most recently, he was named a Leading Lawyer by Legal
500 and named “Highly Regarded” for Restructuring and Insolvency in the U.S. by IFLR1000
in 2020. In 2019, Mr. Barr was named among Turnarounds & Workouts’ “Outstanding
Restructuring Lawyers” and named a Leading Lawyer by Legal 500. In 2017 he was named
among Turnarounds & Workouts’ “Outstanding Restructuring Lawyers” and a “Bankruptcy
MVP” by Law360. Commentators in Chambers USA have called him “tremendously bright,
responsive and reliable,” and “a measured, strong advocate” that knows “how to get to a
resolution in a case.” IFLR1000 called him “a very strong and commercial lawyer. He never
loses his cool and always finds a way to get to yes.”
Currently Mr. Barr serves on the board of directors for the National Kidney Foundation –
Greater New York as well as the American Red Cross – Greater New York and is a board
24is proud to support the Seventeenth Annual
Wharton Restructuring & Distressed Investing Conference
member of the Weil Foundation. Mr. Barr joined Weil in 2015 from a major international
law firm, where he was a senior equity partner, resident in that Firm’s New York office.
Mr. Barr has contributed to various publications over the years on topics ranging from
valuation litigation, in- and out-of-court remedies of creditors and asset sales. Mr. Barr
has participated on a variety of panels as both a moderator and speaker.
25Miller Buckfire presents
Retail Rodeo: Reflections on Yet Another Unprecedented
Dynamic Year in Retail
Friday, April 9, 2021 1:00 PM–1:50 PM ET
This panel will discuss the challenges and achievements of stakeholders, investors and advisors in the retail industry
over this last year, how the COVID pandemic intensified and accelerated ongoing trends and led to some welcome and
unwelcome surprises.
Andrew C. Ambruoso
Counsel
Latham & Watkins
Andrew C. Ambruoso advises companies, creditors, and institutional and distressed
investors on a range of restructuring matters, including large out-of-court workouts,
distressed acquisitions, and chapter 11 proceedings.
Mr. Ambruoso handles complex restructuring matters, both in and out of court,
on behalf of agent banks, creditors, hedge funds, and companies. His practice
includes multi-billion dollar restructurings spanning diverse industries, such as
retail and consumer products, energy, gaming and hospitality, pharmaceuticals,
steel, and aviation.
Mr. Ambruoso helps parties achieve consensus by applying his strong negotiating
skills, as well as his blend of creditor and company-side experience. He is adept at
handling all phases and types of restructuring and special situation transactions,
including debtor-in-possession financings, pre-packaged and pre-arranged plans
of reorganization, and out-of-court restructuring proceedings.
Upon graduating law school, Mr. Ambruoso served for two years as law clerk to the
Honorable John C. Ninfo, II, Chief Judge, US Bankruptcy Court for the Western District
of New York, and Senior Judge for the Bankruptcy Appellate Panel of the US Court of
Appeals for the Second Circuit.
26Jon Goulding
Managing Director, Co-Head West Region
Alvarez & Marsal
Jon Goulding is a Managing Director and Co-Head for the West Region with Alvarez
& Marsal’s North American Commercial Restructuring Practice in Los Angeles. In this
role, he specializes in financial and strategic planning, liquidity management and
implementation of financial strategies for corporate turnarounds and restructuring.
With more than 20 years of management consulting, financial restructuring and
interim management experience, Mr. Goulding advises debtor and creditor clients,
both in court and outside of bankruptcy.
Mr. Goulding assists clients in reviewing and preparing business plans, analyzing
product profitability, assessing cash flow and liquidity, and developing restructuring
and reorganization strategies. He has worked in a variety of industries, including
retail, energy, technology, transportation and logistics, agriculture, manufacturing,
telecommunications and financial services.
Most recently, Mr. Goulding was the Chief Restructuring Officer for Forever 21, Inc.
Mr. Goulding’s other retail engagements include Toys “R” Us, Savers/Value Village,
Movie Gallery (where he served as Treasurer), Haggen, Fresh & Easy Neighborhood
Markets, and Gymboree, among others.
Prior to joining A&M, Mr. Goulding spent two years in the San Francisco office of the
Corporate Restructuring Group of a Big Five firm, where he served as an Associate.
Previously, Mr. Goulding was a Business Strategist with Viant Corporation and an
Associate at SRI Consulting.
Mr. Goulding earned his bachelor’s degree in chemical engineering from the
University of Michigan. He is a Certified Insolvency and Restructuring Advisor (CIRA)
and a Chartered Financial Analyst (CFA) charterholder. Additionally, he is a member
of the Association of Insolvency and Restructuring Advisors (AIRA), the Southern
California Chapter of the Turnaround Management Association and the CFA
Institute.
Bradford J. Sandler
Senior Partner
Pachulski Stang Ziehl & Jones LLP
Bradford J. Sandler is a Senior Partner at Pachulski Stang Ziehl & Jones LLP, a
member of both its Management and Long-term Planning Committees, and is Co-
Chair of its Creditors’ Committee Practice Group which, year after year, is one of the
most active and recognized Committee Practices in the United States.
27For a quarter century, Brad has been representing debtors, committees, acquirers,
fiduciaries, and other significant parties in interest in complex reorganizations and
financially distressed situations, both in and out of court around the United States.
Several national publications have recognized Brad’s dedication to his clients
and his commitment to achieving his clients’ goals. He is ranked among the top
Bankruptcy/Restructuring attorneys in America by Chambers USA, which states
that Brad “boasts deep expertise in the representation of creditors’ committees
in complex Chapter 11 proceedings,” and that he “blend[s] traditional legal skills
with commercial negotiating and business sense.” Chambers USA also notes that
Brad is “a creative, calm, effective lawyer who is also quick, smart and aggressive.”
Further, he has been selected for inclusion in Best Lawyers in America every year
since 2013, while many of his cases and its professionals have received top awards
from various organizations, including the Turnaround Management Association, the
Global M&A Network, and The M&A Advisor.
He is a former Adjunct Professor of Law of Temple University School of Law, and he
regularly speaks on insolvency topics around the United States.
Sean Sheehan
Senior Managing Director
Encina Business Credit, LLC
Sean Sheehan is a Senior Managing Director at Encina Business Credit, LLC, a
nonbank asset-based lender, and joined the company shortly after its inception in
early 2016. Sean has 27 years of corporate finance experience and is responsible
for originations in the Northeast, with a specific focus on restructuring transactions.
Prior to joining Encina, Sean held positions at Firstlight Financial Corporation, Forthill
Investment Partners, RBS Citizens Business Capital and 17 years with GE Capital.
James Doak
Co-Head and Managing Director
Miller Buckfire
(Moderator)
James Doak is a Co-Head and Managing Director of Miller Buckfire. Mr. Doak’s
experience includes M&A, financing and restructuring transactions on behalf of
the City of Detroit, the Mashantucket (Western) Pequot Tribal Nation, Broder Bros.
Co., Magna Entertainment Corp., Standard Pacific Corp., Allied Holdings, Hines
Horticulture, ITC^DeltaCom, Level 3 Communications, Kanebo Ltd., Burlington
Industries, Horizon Natural Resources, CenterPoint Energy, Gilat Satellite Networks,
Viatel and Allied Riser Communications. Mr. Doak has also represented creditor
constituents in various restructuring transactions including Idearc, Wilton Brands
Inc. and The Lenox Group and advised several non-disclosed sovereigns and
municipalities.
28Extraordinary Clients
Extraordinary Solutions
Paul, Weiss attorneys bring diverse perspectives and
innovative ideas to every matter. Together, we navigate
complex legal and business challenges.
PAUL, WEISS, RIFKIND, WHARTON & GARRISON LLP paulweiss.com
Mr. Doak is a former member of the financial restructuring group of Dresdner
Kleinwort Wasserstein, which he joined in 2000. Prior to joining Dresdner Kleinwort
Wasserstein, he was an investment banker at Goldman, Sachs & Co.
Mr. Doak has focused on a variety of sectors throughout his career,
including municipal/sovereign financial distress, gaming, transportation,
telecommunications, distribution, home goods, information technology, textiles
and power generation and transmission. He is a member of the Turnaround
Management Association, the American Bankruptcy Institute and a frequent
panelist at industry conferences. Mr. Doak has authored several articles on
corporate distress and turnaround leadership and in June 2011 was selected as
one of The M&A Advisor’s 40 Under 40 leading M&A, financing and turnaround
professionals. Mr. Doak has an M.B.A. (with high distinction) from Harvard Business
School where he was a Baker Scholar, a J.D. (cum laude) from Harvard Law School
and an A.B. (magna cum laude) from Harvard University with a concentration in
Social Studies.
29Weil, Gotshal & Manges presents
Challenges of Contentious Cross-Border Chapter 11s
During COVID
Friday, April 9, 2021 2:00 PM–2:50 PM ET
Weil restructuring partner David Griffiths will lead a discussion on the challenges of executing contentious cross-border
chapter 11 cases during COVID. Drawing on the successful restructuring of Speedcast International, a global remote
communications business serving 3,200 customers in 140 countries, the panel will address the strategic path taken by
Speedcast in the face of an intractable dispute among its secured lenders that stalled its restructuring, the steps that
ultimately ensured that the Company was able to successfully reorganize, and the hurdles it had to overcome to
get there.
Kelly DiBlasi
Partner, Restructuring
Weil, Gotshal & Manges
Kelly DiBlasi is a partner in the Restructuring Department at Weil, Gotshal & Manges
LLP.
Ms. DiBlasi’s practice focuses on debtors, creditors, and equity interest holders in all
areas of domestic and international restructurings and crisis management, both in
and out of court. Most recently, she was named a “Rising Star” for Restructuring and
Insolvency in the U.S. by IFLR1000 for 2020.
Ms. DiBlasi also represents, on a pro bono basis, the N.Y. Police and Fire Widows’
& Children’s Benefit Fund, and has helped several U.S. military veterans seeking
assistance with applying for disability benefits. Her pro bono work has also included
assisting a non-profit entity in connection with its out-of-court restructuring.
Ms. DiBlasi has served as a teacher’s assistant at Cardozo School of Law and
Harvard Law School. She frequently presents at bankruptcy seminars and
participates in a variety of firm activities and initiatives focused on training,
mentoring, recruiting, and diversity.
30Paul Genender
Partner, Litigation
Weil, Gotshal & Manges
Paul Genender is a partner in Weil’s Complex Commercial Litigation practice,
and the leader of the Firm’s Litigation practice in Dallas. A seasoned trial lawyer,
Mr. Genender represents clients in connection with a range of business disputes,
including antitrust, bankruptcy, breach of contract, business fraud, breach of
fiduciary duty, unfair and deceptive trade practices, unfair competition, securities
fraud, and trade secrets-related matters. He also counsels clients on antitrust
compliance, board governance, fiduciary duty and other business law issues, and
pre-lawsuit dispute resolution. He has extensive experience litigating complex
restructuring disputes in bankruptcy courts throughout the nation.
Outside of his active practice, Mr. Genender is involved in diversity and inclusion
initiatives. He serves as Co-Chair of the Firm’s Taskforce on Women’s Engagement
& Retention (TOWER), and sits on the Firm’s Diversity Committee. Mr. Genender
also serves as General Counsel of the Texas General Counsel’s Forum and on the
Board of Directors of the Dallas Women Lawyers Association (DWLA) Foundation,
where he was honored by the DWLA as the recipient of its James E. Coleman, Jr.
“Her Champion Award,” in recognition of his support and dedication to advancing
women in the legal profession. He is also a Trustee of the St. Mark’s School of Texas
in Dallas.
Mr. Genender received his J.D. in 1994 from Duke University School of Law, where he
served as Notes Editor of the Duke Journal of Comparative and International Law. He
received his A.B., magna cum laude, Phi Beta Kappa, in 1991 from Duke University.
Michael Healy
Senior Managing Director, FTI Consulting
Chief Restructuring Officer, Speedcast International
Michael Healy is a Senior Managing Director in the Corporate Finance &
Restructuring practice at FTI Consulting, based in New York. Previously, Mr. Healy was
a Senior Managing Director in CDG’s Restructuring Group. He spent 15 years at CDG
and has worked on a variety of restructuring and strategic advisory assignments
across a broad range of industries. Examples of Mr. Healy’s public assignments
include All American Group (Coachman Industries), CHC Group, Dayton Superior,
Foodarama Supermarkets, HMX Group, Integrated Electrical, Linens’ n Things,
Penn Traffic Supermarkets, PRACS Institute, Reichhold Industries, St. Louis Post-
Dispatch, Transcentra Inc., USG, World Health Alternatives, W.R. Grace and Vertis
Communications. Mr. Healy has also served as Chief Restructuring Officer (“CRO”),
President, and Chief Executive Officer (“CEO”) in both in-court and out-of-court
situations. Mr. Healy has extensive testimony experience serving as the primary
31witness in several highly contested matters. Mr. Healy received a B.S. in Finance from
Rensselaer Polytechnic Institute and an M.B.A. from the Lally School of Management
at Rensselaer Polytechnic Institute.
Paul Rathborne
Managing Director
Moelis Australia
Paul Rathborne is a Managing Director of Moelis Australia and Head of Corporate
Finance.
Paul has over 16 years’ experience in investment banking joining Moelis Australia
on its launch in 2010, and prior to that was at JPMorgan in its investment banking
division.
Paul’s focus is on Special situations, M&A, and capital market transactions.
Recent relevant transactions he has led include;
1. Recapitalisation of Freedom Foods
2. Recapitalisation and sale of Speedcast International
3. Recapitalisation and sale of Marlin Brands
4. Recapitalisation of Onsite Rental Group
5. Recapitalisation and sale of Bis Industries
6. Recapitalisation and sale of Ten Network
Paul has a Bachelor of Commerce with distinction from the University of New South
Wales.
David Griffiths
Partner, Restructuring
Weil, Gotshal & Manges
(Moderator)
David Nigel Griffiths is a partner in the Restructuring Department at Weil, Gotshal
& Manges LLP. On the company side, he regularly represents large and medium-
size businesses in strategic planning, restructuring, and chapter 11 proceedings. As
company counsel, Mr. Griffiths is currently leading the chapter 11 restructuring of
Speedcast International, the world’s largest global satellite provider specializing
in satellite connectivity for business and enterprise satellite networks. He has been
actively involved in the restructurings of Westinghouse Electric Company, CHC
Group Ltd., Golfsmith, MBIA, MF Global, General Motors/Motors Liquidation Company
and Uno Restaurants, among others. On the creditor side, Mr. Griffiths is currently
representing Citibank as DIP Agent and Prepetition Revolver and Term Loan Agent
32is Proud to Support
The Wharton Restructuring
and Distressed Investing Conference
New York London San Francisco Palo Alto Los Angeles
in the chapter 11 cases of Global Eagle Entertainment. Additionally, Mr. Griffiths
has significant experience representing hedge funds in all areas of domestic and
international restructurings and distressed asset purchases, as well as extensive
experience in crisis management, corporate governance, financings, and corporate
and capital markets transactions.
Most recently, David was named an “Emerging Leader” by The M&A Advisor for
2020. In 2019 he was named among Turnarounds & Workouts’ Outstanding Young
Restructuring Lawyers and named a Law360 Rising Star.
Mr. Griffiths also spends a significant amount of time on pro bono and charitable
activities. He worked in Haiti under the auspices of the Organization of American
States on a disability rights project financed by USAID, training Haitian government
ministers, civil servants, and judges on the implementation of the UN Convention
on the Rights of Persons with Disabilities. David is the founder and trustee of
international adventure charity Go Help. Also, he advised the UN World Food
Programme on the world’s first humanitarian weather derivative transaction, and
previously worked for the United Nations International Criminal Tribunal for Rwanda
in Arusha, Tanzania.
33Q&A Discussion of “The Caesars Palace Coup”
Friday, April 9, 2021 3:00 PM–3:50 PM ET
Co-Chair Alexander McHale interviews authors Max Frumes and Sujeet Indap about “most brutal corporate
restructuring in Wall Street history” and their thoughts on distressed investing today. Conference attendees will receive
a complimentary copy of Frumes’ and Indap’s book, “The Caesar’s Palace Coup”.
From the book’s official description: “In the tradition of Barbarians at the Gate and The Big Short comes the riveting,
multi-dimensional poker game between private equity firms and distressed debt hedge funds that played out from the
Vegas Strip to Manhattan boardrooms to Chicago courthouses and even, for a moment, the halls of the United States
Congress.
In The Caesars Palace Coup, financial journalists Max Frumes and Sujeet Indap illuminate the brutal tactics of
distressed debt mavens—vultures, as they are condemned—in the sale and purchase of even the biggest companies in
the world with billions of dollars hanging in the balance.”
Max Frumes
Co-Author
The Caesars Palace Coup
Max Frumes leads a news team at Fitch Solutions covering corporate debt and
restructuring. He previously was the founding editor of a leading publication
covering corporate bankruptcy, and before that reported for S&P’s Leveraged
Commentary & Data and The Deal. Frumes received his undergraduate degree
from the University of California, Berkeley, and an MSJ from Northwestern’s Medill
School of Journalism. He lives in Brooklyn with his wife and daughter.
Sujeet Indap
Co-Author
The Caesars Palace Coup
Sujeet Indap is the U.S. editor of the Lex Column at the Financial Times, where he
contributes stories across the paper. He has written extensively on the intersection
of corporate finance and corporate law. Indap was previously an investment banker
before he joined the Financial Times in 2013. He is a graduate of Pomona College
and the Wharton School at the University of Pennsylvania. Indap lives in Manhattan,
NY, with his wife.
34Max Frumes and Sujeet Indap will be interviewed by Alexander McHale
Alexander McHale
Co-Chair
Wharton Restructuring and Distressed Investing Conference 2021
Alex is a second year MBA student at the Wharton School. Prior to Wharton, he was a
Finance Associate at Waterfield Midstream, a Blackstone portfolio company focused on
water disposal in the Permian Basin. Before that, he spent three years in energy private
equity and two years in investment banking.
After graduation, he will join Surveyor Capital at Citadel. He graduated from Columbia
University with a BA in Financial Economics in 2013.
We are proud to support the Wharton
Restructuring and Distressed
Investing Conference
Insightful advice. Skilled execution.
Our transaction teams consist of professionals
focused on advising and executing
restructurings, reorganizations and other
complex financial transactions for public,
private and governmental clients.
Learn more at PiperSandler.com
Since 1895. Member SIPC and NYSE. © 2021 Piper Sandler & Co. 4/21
35Keynote 3
Friday, April 9, 2021 4:00 PM–4:50 PM ET
Eric Zinterhofer
Founding Partner
Searchlight
Mr. Zinterhofer is a Founding Partner of Searchlight, and is jointly responsible
for overseeing the Firm’s activities with the two other Founding Partners. Mr.
Zinterhofer serves on the Boards of Ziply Fiber, the Octave Group, Hemisphere
Media Group, Univision and Liberty Latin America. In addition, Mr. Zinterhofer
currently serves on the board of Charter Communications, Inc. as Lead
Independent Director. Prior to co-founding Searchlight, Mr. Zinterhofer was
a senior partner at Apollo Management, L.P. in New York. Mr. Zinterhofer
graduated Cum Laude from the University of Pennsylvania, with BA degrees
in Honors Economics and European History and received an MBA from the
Harvard Business School.
Eric Zinterhofer will be interviewed by Edward O. Sassower
Edward O. Sassower
Partner
Kirkland & Ellis
Edward Sassower serves on the Firm’s Executive Committee and is a partner in the
Restructuring Group. He focuses on representing debtors, creditors and distressed
or special situation investors in bankruptcy cases, out-of-court restructurings and
acquisitions.
Edward Sassower serves on the Firm’s Executive Committee and is a partner in the
Restructuring Group. He focuses on representing debtors, creditors and distressed
or special situation investors in bankruptcy cases, out-of-court restructurings and
acquisitions.
Edward has consistently been recognized by Chambers USA, America’s Leading Lawyers
for Business and Chambers Global, The World’s Leading Lawyers for Business. Most
recently, interviewees described Edward as “one of those rare people who comes along
once in a while who has a legal mind and a business mind.” In prior editions, interviewees
described Edward as a “master strategist and brilliant technician” who “demonstrates
incredible creativity” with “both a brilliant and commanding understanding of the law
as well as a complete and thoughtful view of business” noting that his “ability to build
consensus and to coalesce the group around important issues was stunning.” Client and
peer quotes have also described Edward as a “really talented and very savvy deal-maker”
36You can also read
